Place-Based Economics

Place-Based Economics is a concept that emphasizes the importance of location in economic activity. It suggests that the characteristics of a specific place—such as its culture, resources, and community—play a crucial role in shaping local economies. Instead of focusing solely on global or national trends, this approach advocates for policies and practices that enhance the unique strengths of a local area. By prioritizing local assets and engaging the community, Place-Based Economics aims to foster sustainable growth and resilience, improving both economic outcomes and the quality of life for residents.